Galina has been using the Japanese Candlesticks in trading since 2004. Meanwhile, she has wrote dozens of articles about these patterns, because nowadays it's possible to see a lot of things that couldn't be discovered in the good old days. Everyday Galina share her expert opinion about EUR/USD and USD/JPY on the fxBazooka.com.

USD/JPY: the two "Inverted Hammers" in a row

Galina Svetlova

The main trend is a still bearish. We've got a reversal “Inverted Hammer” on the nearest support line, but it hasn't been confirmed yet. So, the market is likely going to test this support once again. As we can see on the Daily chart, we don’t have any reversal pattern so far. Today’s candle is probably going to be a black one, but then we’ll likely see an upward correction soon.

We’ve got a “Harami” and an “Inverted Hammer” at the last low, which both have been confirmed enough. Therefore, the pair is likely going to get a support on the 34 Moving Average. If so, bears will be so happy to break yesterday's low.